Global hedge funds holding short positions in Ocado, including Man and AQR, were facing potential losses on Thursday after shares in the UK online grocery business surged, according to a report by Reuters citing data from research group Breakout Point.
Global hedge funds holding short positions in Ocado, including Man and AQR, were facing potential losses on Thursday after shares in the UK online grocery business surged, according to a report by Reuters citing data from research group Breakout Point.
Shares in Ocado, which has been hit hard by the cost of living crisis in in the UK, leapt by over 40% on Thursday after The Times newspaper reported speculation of possible acquisition interest from US suitors, including Amazon.
According to Breakout Point, regulatory short disclosures suggest that nine short-sellers had trades facing a total potential loss of about £101 million pounds ($128.88 million) on Thursday.
As well as Man and AQR, BlackRock Investment Management, D1 Capital Partners, Gladstone Capital Management, Kintbury Capital, Systematica Investments, Varenne Capital Partners and Whale Rock Capital Management are among the firm’s identified as having short positions in Ocado.
